Tradeweb Markets Inc. (TW) CEO trades shares under 10b5-1 plan

Rhea-AI Filing Summary

Tradeweb Markets Inc. chief executive William Hult reported several transactions in the company’s Class A common stock. On February 10, 2026, he exercised a stock option for 72,450 shares at an exercise price of $20.59 per share, converting a derivative position into common stock.

That same day, Hult sold 72,450 shares at a weighted average price of $115.4508 and an additional 48,768 shares at a weighted average price of $115.4487, with individual trades executed between $113.33 and about $116.87. The filing states these sales were made under a Rule 10b5-1 trading plan adopted on November 3, 2025. After these transactions, he beneficially owned 126,738 shares, a figure that includes multiple tranches of unvested restricted stock units scheduled to vest between March 2026 and March 2028, assuming continued employment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hult William

(Last) (First) (Middle)

TRADEWEB MARKETS INC.

245 PARK AVENUE

(Street)

NEW YORK NY 10167

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Tradeweb Markets Inc. [ TW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A common stock	02/10/2026		M(1)		72,450	A	$20.59	247,956(2)	D
Class A common stock	02/10/2026		S(1)		72,450	D	$115.4508(3)	175,506(2)	D
Class A common stock	02/10/2026		S(1)		48,768	D	$115.4487(4)	126,738(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$20.59	02/10/2026		M(1)			72,450	(5)	10/26/2028	Class A common stock	72,450	$0	72,450	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 3, 2025.

2. This amount includes (i) 14,376 unvested restricted stock units ("RSUs") in respect of the issuer's Class A common stock ("Class A Common Stock") which are scheduled to vest on March 15, 2026, (ii) 23,356 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 15, 2026 and March 15, 2027, and (iii) 30,682 unvested RSUs in respect of Class A Common Stock that are scheduled to vest in equal installments on March 17, 2026, March 17, 2027 and March 17, 2028, in each case, subject to the reporting person's continued employment through the applicable vesting date.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.33 to $116.85, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3 and 4 to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.33 to $116.87, inclusive.

5. This option is fully vested and exercisable as of the date hereof.

Remarks:

	/s/ Douglas Friedman, Attorney-in-Fact for William Hult	02/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did TW CEO William Hult report on February 10, 2026?

William Hult reported exercising options for 72,450 shares of Tradeweb Markets Inc. Class A common stock at $20.59 per share, then selling 72,450 and 48,768 shares at weighted average prices around $115.45 per share the same day.

Was the TW CEO’s February 10, 2026 share sale pre-planned?

Yes. The filing states the transactions were executed under a Rule 10b5-1 trading plan that William Hult adopted on November 3, 2025. Such plans allow insiders to schedule trades in advance, helping separate trading decisions from later market-sensitive information.

How many Tradeweb (TW) shares does CEO William Hult own after these trades?

After the reported transactions, William Hult beneficially owned 126,738 shares of Tradeweb Markets Inc. Class A common stock. This total includes several blocks of unvested restricted stock units scheduled to vest between March 2026 and March 2028, subject to continued employment.

At what prices did the TW CEO sell his Class A common stock?

The reported sales occurred at weighted average prices of $115.4508 for 72,450 shares and $115.4487 for 48,768 shares. The filing notes individual trades were executed in ranges from $113.33 up to about $116.87 per share.

What stock option did the TW CEO exercise in the February 2026 Form 4?

He exercised a stock option (right to buy) covering 72,450 shares of Class A common stock at an exercise price of $20.59 per share. The filing notes this option was fully vested and exercisable as of the transaction date.

How are the TW CEO’s unvested RSUs structured after these transactions?

His beneficial ownership includes unvested RSUs in three tranches: 14,376 RSUs vesting March 15, 2026; 23,356 RSUs vesting in equal parts on March 15, 2026 and 2027; and 30,682 RSUs vesting in equal parts on March 17 of 2026, 2027 and 2028, contingent on continued employment.